Item 1.01 Entry into a Material Definitive Agreement
As of January 18, 2023, Inception Mining, Inc. (the "Company") entered into a
Settlement Agreement (the "Settlement Agreement") with Antilles Family Office,
LLC (the "Investor"), pursuant to which the Company and the Investor agreed to
settle claims asserted between them related to that certain Senior Secured
Redeemable Convertible Note ("Note") executed on May 20, 2019 and related
matters (the "Litigation").
In exchange for the payment of $1,200,000 paid by the Company to the Investor
(the "Settlement Payment"), the Company and the Investor agreed to settle and
discharge all matters between the parties and all claims related to the
Litigation and the Note. The Settlement Payment was delivered on January 20,
2023.
On January 20, 2023, the parties submitted a stipulated dismissal of the
Litigation to the United States District Court for the District of Delaware.
The foregoing description of the terms of the Settlement Agreement is subject
to, and qualified in its entirety by, the terms of the Settlement Agreement,
which is attached hereto as Exhibit 10.1 hereto and incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 Settlement Agreement by and between Inception Mining, Inc., and
Antilles Family Office, LLC
104 Cover Page Interactive Data File (embedded within Inline XBRL
document)
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